Sharekhan's research report on Lumax Auto Technologies
With the acquisition of a 60% stake in Greenfuel, LATL has marked its entry into the CNG segment. LATL has been focussing on inorganic growth through acquisitions and partnerships in high-potential industries.
Outlook
We maintain BUY with a revised PT of Rs. 767, based on the anticipated improvement in the product mix, increased content per vehicle, inorganic growth opportunity and expanded growth opportunities supported by IACI’s business. The stock trades at a P/E multiple of 19.6x/16.6x and EV/EBITDA multiple of 8.5x/7.5x its FY2026E/FY2027E estimates.
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